USD 5.98 Billion
Hemostasis and Tissue Sealing Agents Market Size, Share, Growth Analysis, By Application(General surgery, minimally invasive surgery, and others), By End user(Hospitals, ambulatory surgical centres, home care settings, and others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2694 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
64
|Figures:
75
Hemostasis and Tissue Sealing Agents Market Insights
Hemostasis and Tissue Sealing Agents Market size was valued at USD 5.98 Billion in 2021 and is poised to grow from USD 6.4 Billion in 2022 to USD 11.08 Billion by 2030, at a CAGR of 7.1% during the forecast period (2023-2030).
The global hemostasis and tissue sealing agents market was experiencing significant growth, driven by various factors and innovations in the healthcare industry. The main drivers of the market's expansion include the rising prevalence of chronic diseases and an aging population, which has increased the demand for surgical procedures globally. As the number of surgeries grows, so does the need for effective hemostatic and tissue sealing products to ensure patient safety and minimise complications. Additionally, the ongoing advancements in surgical techniques and the adoption of minimally invasive procedures have further bolstered the market, as these techniques often require reliable hemostatic and tissue sealing agents to ensure successful outcomes. Moreover, the continuous development of innovative products with improved efficacy and reduced side effects has also contributed to market growth.
Manufacturers are investing in research and development to introduce new, more efficient hemostatic and tissue sealing agents, which has resulted in increased acceptance among healthcare professionals. Despite these positive factors, the Hemostasis and Tissue Sealing Agents market also faces some challenges. One significant challenge is the stringent regulatory environment surrounding these medical products. The approval process for new hemostatic and tissue sealing agents can be time-consuming and expensive, impacting the pace of product innovation and market entry for new players. Furthermore, cost constraints in the healthcare sector and reimbursement issues in some regions may limit the adoption of advanced hemostasis and tissue sealing products. Hospitals and healthcare facilities may be reluctant to invest in costly agents, particularly in regions where healthcare budgets are under pressure. Additionally, competition among market players can be intense, leading to pricing pressures and reduced profit margins. Companies must continually invest in research, marketing, and distribution channels to maintain a competitive edge in the market.
US Hemostasis and Tissue Sealing Agents Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
General
Fastest Growth
General
Growth Rate
7.1% CAGR
Global Hemostasis and Tissue Sealing Agents Market ($ Bn)
Country Share for North America Region (%)
To get more reports on the above market click here to Buy The Report
Hemostasis and Tissue Sealing Agents Market Segmental Analysis
The global hemostasis and tissue sealing agents market is segmented on the basis of application, end user, and region. By application, the market is segmented into general surgery, minimally invasive surgery, and others. By end user, the market is segmented into hospitals, ambulatory surgical centres, home care settings, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Hemostasis and Tissue Sealing Agents Market Analysis By Application
The global hemostasis and tissue sealing agents market can be segmented by application into three main categories: general surgery, minimally invasive surgery, and others. One dominant application segment in the market is general surgery. General surgery covers a broad range of procedures, including abdominal surgeries, orthopaedic surgeries, gynaecological surgeries, and more. The demand for hemostasis and tissue sealing agents is consistently high in general surgery due to the prevalence of various health conditions and the necessity of surgical interventions. Hemostatic and tissue sealing products are extensively used in controlling bleeding and promoting wound closure during these procedures, enhancing patient outcomes and reducing the risk of complications. The general surgery segment has a significant market share and is expected to remain a crucial driver for the overall Hemostasis and Tissue Sealing Agents market.
The fastest-growing application segment in the market is minimally invasive surgery (MIS). Minimally invasive surgical techniques have gained popularity over the years, as they offer several advantages over traditional open surgeries, such as smaller incisions, reduced scarring, shorter recovery times, and fewer postoperative complications. The rising adoption of MIS procedures across various medical specialties, including cardiology, urology, and gastroenterology, has fueled the demand for specialised hemostatic and tissue sealing agents tailored for minimally invasive use. These agents play a crucial role in ensuring effective hemostasis and sealing of tissues during laparoscopic, endoscopic, or robotic-assisted procedures. As technological advancements continue to improve and expand the application of minimally invasive techniques, the demand for hemostasis and tissue sealing agents in this segment is projected to grow rapidly in the coming years.
Hemostasis and Tissue Sealing Agents Market Analysis By End user
The global hemostasis and tissue sealing agents market can be segmented by end users into several categories, including hospitals, ambulatory surgical centres, home care settings, and others. One dominant end-user segment in the market is hospitals. Hospitals are the primary providers of healthcare services and are major consumers of hemostasis and tissue sealing agents. The high patient footfall and the wide range of surgical procedures performed in hospitals create a constant demand for these products. Hemostasis and tissue sealing agents are essential in controlling bleeding and promoting wound healing during surgeries, ensuring successful outcomes and reducing the risk of complications. The well-established infrastructure, access to skilled medical professionals, and the need for advanced medical products in hospital settings make them the leading consumers of hemostatic and tissue sealing agents, contributing significantly to the overall market share.
The fastest-growing end-user segment in the market is home care settings. With advancements in medical technology and an increasing emphasis on patient-centric care, there has been a growing trend toward shifting certain medical procedures from hospitals to home care environments. Home care settings offer numerous benefits, such as cost-effectiveness, convenience, and patient comfort. For certain procedures that can be safely performed in a home care setting, specialised hemostasis and tissue sealing agents are becoming more accessible to patients. These agents cater to the needs of patients undergoing procedures like wound closure or other minor surgical interventions at home. The rising preference for home-based healthcare and the development of user-friendly products suitable for home care use are expected to drive the growth of this end-user segment in the Hemostasis and Tissue Sealing Agents market.
Global Hemostasis and Tissue Sealing Agents Market By Application
To get detailed analysis on other segments, Request For Free Sample Report
Hemostasis and Tissue Sealing Agents Market Regional Insights
The North American region, comprising the United States and Canada, holds a significant share of the global Hemostasis and Tissue Sealing Agents market. The dominance of this region can be attributed to several factors, including a well-established healthcare infrastructure, high healthcare expenditure, and a large patient pool requiring surgical interventions. Moreover, the presence of key market players and their focus on research and development activities have contributed to the widespread adoption of advanced hemostatic and tissue sealing products. Additionally, the increasing prevalence of chronic diseases and the aging population have boosted the demand for surgical procedures, further driving the market's growth in North America.
The fastest-growing region in the global Hemostasis and Tissue Sealing Agents market is the Asia-Pacific (APAC) region. Countries in this region, such as China, Japan, India, South Korea, and others, have witnessed significant economic growth, leading to improved healthcare infrastructure and increased access to medical services. The rising awareness about advanced surgical techniques, coupled with the expanding healthcare expenditure in these countries, has resulted in a surge in demand for hemostatic and tissue sealing agents. Furthermore, the adoption of Western surgical practices and the growing medical tourism industry have accelerated the uptake of these products in the APAC region. The presence of a large population base and a growing number of surgical procedures being performed in the region make it a lucrative market for hemostasis and tissue sealing agents.
Global Hemostasis and Tissue Sealing Agents Market By Region
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Hemostasis and Tissue Sealing Agents Market Dynamics
Hemostasis and Tissue Sealing Agents Market Drivers
Minimally Invasive Surgical Techniques
- The growing preference for minimally invasive surgical techniques has boosted the demand for specialised hemostatic and tissue sealing agents suitable for use in laparoscopic, endoscopic, or robotic-assisted procedures. These agents play a vital role in ensuring effective hemostasis and tissue closure during less invasive surgeries.
Increasing Chronic Diseases
- The rising incidence of chronic diseases, such as cardiovascular diseases, cancer, and diabetes, has contributed to the need for surgical interventions. Hemostasis and tissue sealing agents are crucial in managing bleeding and healing wounds associated with these conditions.
Hemostasis and Tissue Sealing Agents Market Restraints
Stringent Regulatory Approval Process
- The approval process for new hemostasis and tissue sealing agents can be time-consuming and costly due to the strict regulatory requirements. This can hinder the entry of new products into the market and delay their commercialization.
High Cost of Advanced Products
- Some advanced hemostatic and tissue sealing agents can be relatively expensive, impacting their adoption in regions with limited healthcare budgets or reimbursement constraints.
Request Free Customization of this report to help us to meet your business objectives.
Hemostasis and Tissue Sealing Agents Market Competitive Landscape
The competitive landscape of the global hemostasis and tissue sealing agents market is characterised by a diverse range of companies offering a variety of products to address the growing demand for effective hemostatic and tissue sealing solutions. These companies compete based on product innovation, efficacy, safety, regulatory approvals, and pricing. The market includes both established multinational corporations and smaller regional players, each striving to gain a competitive edge. Innovation plays a vital role in shaping the competitive landscape, with companies investing heavily in research and development to introduce new and advanced hemostasis and tissue sealing agents. These innovations often focus on improving product performance, reducing adverse reactions, and catering to specific surgical procedures or techniques, such as minimally invasive surgeries.
Established companies in the market leverage their brand recognition, global distribution networks, and longstanding relationships with healthcare providers to maintain their market share. They also engage in strategic collaborations and acquisitions to expand their product portfolios and enter new geographic regions. On the other hand, smaller and emerging players compete by focusing on niche markets or developing cost-effective solutions to gain a foothold in the industry. Their agility and flexibility enable them to respond swiftly to evolving market needs and offer tailored products to specific end-user segments. Regulatory approvals and compliance are critical factors influencing the competitive landscape. Companies that obtain timely regulatory clearances for their products have a competitive advantage, as it demonstrates product safety and efficacy, instilling confidence among healthcare professionals and potential customers.
Hemostasis and Tissue Sealing Agents Market Top Player’s Company Profile
- C.R. Bard, Inc. (acquired by BD/Becton Dickinson) - USA
- Integra LifeSciences Holdings Corporation - USA
- Teleflex Incorporated -USA
- Medtronic plc - Ireland
- CryoLife, Inc. - USA
- Smith & Nephew plc - United Kingdom
- Pfizer Inc. (formerly Ethicon Biosurgery, a division of Ethicon, Inc.) - USA
- Johnson & Johnson (Lifecell Corporation, a subsidiary) - USA
- Cohera Medical, Inc. - USA
- Pfizer Inc. (formerly King Pharmaceuticals, Inc.) - USA
- Biom'Up - France
- Hemostasis, LLC - USA
- Tissuemed Ltd. - United Kingdom
- The Medicines Company (acquired by Novartis) - USA
- HyperBranch Medical Technology, Inc. (acquired by Stryker Corporation) - USA
- Equimedical B.V. -: Netherlands
- Ocular Therapeutix, Inc. -USA
Hemostasis and Tissue Sealing Agents Market Recent Developments
- In January 2023, Baxter International Inc. received FDA approval for its new hemostat, TISSEEL Fibrin Sealant. TISSEEL is a bovine-derived fibrin sealant that is used to control bleeding and seal tissues during surgery.
- In February 2023, Medtronic plc. announced the launch of its new tissue sealant, Perclose PROSEAL Suture-Mediated Closure System. Perclose PROSEAL is a minimally invasive device that is used to seal blood vessels during cardiac surgery.
Hemostasis and Tissue Sealing Agents Key Market Trends
- Shift Towards Minimally Invasive Procedures: There has been a notable shift towards minimally invasive surgical techniques, which require specialised hemostasis and tissue sealing agents to ensure effective wound closure and tissue adhesion. As these procedures offer advantages such as smaller incisions, reduced scarring, and shorter recovery times, the demand for appropriate sealing agents has grown significantly.
- Technological Advancements: Ongoing research and development efforts have led to continuous technological advancements in hemostasis and tissue sealing products. Manufacturers are focusing on introducing innovative formulations and delivery systems to enhance product efficacy, safety, and ease of use.
Hemostasis and Tissue Sealing Agents Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global hemostasis and tissue sealing agents market analysis, North America stands as the dominant region in the global Hemostasis and Tissue Sealing Agents market, benefiting from its well-established healthcare infrastructure and high healthcare spending. On the other hand, the Asia-Pacific region is experiencing the fastest growth, driven by economic development, increased healthcare investments, and a rising demand for advanced medical products across various countries in the region. The global Hemostasis and Tissue Sealing Agents market was experiencing steady growth, driven by various factors such as the increasing number of surgical procedures, advancements in surgical techniques, and growing awareness about the benefits of using these agents in wound closure and tissue adhesion. The market was witnessing a shift towards minimally invasive procedures, leading to a rising demand for specialised hemostasis and tissue sealing agents suitable for less invasive surgeries.
Moreover, technological advancements were driving product innovation, with companies investing in research and development to introduce advanced formulations and delivery systems. The prevalence of chronic diseases and an aging population were also contributing to market growth, as these conditions often require surgical interventions where hemostasis and tissue sealing agents are essential. Fibrin sealants, in particular, were gaining popularity due to their biocompatibility and effectiveness in various surgical applications. However, the market faced challenges such as stringent regulatory approval processes, pricing pressures, and competition from alternative treatment options. Regulatory compliance remained critical, and obtaining necessary approvals for new products was time-consuming and expensive. Companies were focusing on cost-effectiveness and value-based care to meet the demands of healthcare providers and payers. Despite these challenges, opportunities were emerging in emerging markets, where increasing healthcare expenditure and improving healthcare infrastructure presented growth prospects for hemostasis and tissue sealing products. Collaboration and partnerships were common strategies employed by companies to strengthen their market presence and expand their product portfolios.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 5.98 Billion |
| Market size value in 2031 | USD 11.08 Billion |
| Growth Rate | 7.1% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Hemostasis and Tissue Sealing Agents Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Hemostasis and Tissue Sealing Agents Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Hemostasis and Tissue Sealing Agents Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Hemostasis and Tissue Sealing Agents Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Hemostasis and Tissue Sealing Agents Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Hemostasis and Tissue Sealing Agents Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
